HP Inc. (HPQ) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System cut its position in shares of HP Inc. (NYSE:HPQ) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,775,864 shares of the computer maker’s stock after selling 304,300 shares during the quarter. California Public Employees Retirement System owned about 0.28% of HP worth $83,482,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Trexquant Investment LP acquired a new stake in shares of HP in the first quarter valued at about $833,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of HP in the first quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after buying an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in HP in the first quarter valued at about $112,000. Institutional investors own 79.18% of the company’s stock.
HPQ has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on HP from $17.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. set a $20.00 price target on HP and gave the company a “buy” rating in a report on Thursday, May 25th. Mizuho increased their price target on HP from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) increased their price target on HP from $16.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada increased their price target on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $20.57.
HP Inc. (HPQ) traded down 0.076% during trading on Friday, hitting $19.755. The stock had a trading volume of 1,229,128 shares. The company has a market capitalization of $33.00 billion, a price-to-earnings ratio of 14.357 and a beta of 1.93. The stock has a 50 day moving average price of $19.18 and a 200 day moving average price of $18.44. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.80.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same period last year, the business posted $0.48 EPS. HP’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post $1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.71%. HP’s dividend payout ratio is currently 38.41%.
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In other HP news, Director Margaret C. Whitman sold 295,952 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $18.02, for a total value of $5,333,055.04. Following the transaction, the director now directly owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marie Myers sold 10,025 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $195,487.50. Following the completion of the transaction, the insider now directly owns 10,025 shares in the company, valued at $195,487.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,587,608 shares of company stock worth $29,785,377. Insiders own 0.62% of the company’s stock.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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